Common use of Rollovers and Transfers Clause in Contracts

Rollovers and Transfers. A Participant may transfer all or part of the assets in his or her SIMPLE IRA under the Plan to another SIMPLE IRA under another SIMPLE plan on a tax-free basis. A Participant may transfer all or part of the assets in his or her SIMPLE IRA under another SIMPLE plan to his or her SIMPLE IRA under this SIMPLE Plan on a tax- free basis. A Participant shall not roll over all or part of the assets in a non-SIMPLE IRA to his or her SIMPLE IRA under the Plan. In addition, a Participant may roll over all or part of the assets in his or her SIMPLE IRA under the Plan to any other eligible retirement plan on a tax-free basis after a two-year period has expired since Employer contributions were first deposited into the Participant’s SIMPLE IRA. Any rollover or transfer must be requested in a form and manner acceptable to the Custodian and must comply with the requirements under Sections 408 and 408A of the Code.

Rollovers and Transfers. A Participant may transfer all or part of the assets in his or her SIMPLE SIMPLE-IRA under the Plan to another SIMPLE SIMPLE-IRA under another SIMPLE plan on a tax-free basis. A Participant may transfer all or part of the assets in his or her SIMPLE SIMPLE-IRA under another SIMPLE plan to his or her SIMPLE SIMPLE-IRA under this SIMPLE Plan on a tax- tax-free basis. A Participant shall not roll over all or part of the assets in a non-SIMPLE SIMPLE-IRA to his or her SIMPLE SIMPLE-IRA under the Plan. In addition, a Participant may roll over all or part of the assets in his or her SIMPLE SIMPLE-IRA under the Plan to any other eligible retirement plan on a tax-free basis after a two-year period has expired since Employer contributions were first deposited into the Participant’s SIMPLE SIMPLE-IRA. Any rollover or transfer must be requested in a form and manner acceptable to the Custodian and must comply with the requirements under Sections 408 and 408A of the Code.